Rising concerns on global growth, driven by the Geneva Report, combined with the RBNZ’s confirmation that they have intervened in FX markets leading into an important week has markets off to a negative start. Equities are lower, U.S. 10‐year yields are back down to 2.51% and the USD is strong. Today’s release of U.S. PCE, where both headline and core are expected to have moderated to 1.4%, is an important input into judging the path of Fed policy.
Read the full report: FX Daily